Ferrari (NYSE:RACE) Stock Price Down 1.8% – What’s Next?

Ferrari (NYSE:RACE)’s share price was down 1.8% during trading on Tuesday . The stock traded as low as $446.71 and last traded at $445.84. Approximately 78,654 shares changed hands during trading, a decline of 72% from the average daily volume of 284,108 shares. The stock had previously closed at $454.20.

Wall Street Analyst Weigh In

RACE has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Stock Performance

The firm’s 50-day moving average price is $455.70 and its two-hundred day moving average price is $454.72. The firm has a market capitalization of $109.88 billion, a PE ratio of 49.55, a P/E/G ratio of 4.43 and a beta of 0.94. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Ferrari Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be given a $3.1265 dividend. This is an increase from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. Ferrari’s dividend payout ratio (DPR) is 5.63%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Ferrari by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company’s stock worth $2,002,581,000 after purchasing an additional 45,754 shares during the period. Jennison Associates LLC boosted its holdings in shares of Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after purchasing an additional 2,636,869 shares during the period. Bank of Italy boosted its holdings in shares of Ferrari by 2.8% during the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock worth $1,002,392,000 after purchasing an additional 63,675 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ferrari by 49.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock worth $763,125,000 after purchasing an additional 594,547 shares during the period. Finally, Norges Bank acquired a new stake in shares of Ferrari during the fourth quarter worth approximately $697,226,000.

Ferrari Company Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.